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Metastatic Melanoma Therapeutics Global Market Report 2024 - By Report, Share, Size, Drivers, Outlook By 2033
Metastatic Melanoma Therapeutics Market
The metastatic melanoma therapeutics market size is expected to see rapid growth in the next few years. It will grow to $12.87 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to expanding patient pool, research and development initiatives, biomarker identification, accelerated regulatory approvals, market expansion into emerging economies.. Major trends in the forecast period include immunotherapy combinations, precision medicine advances, emerging targeted therapies, adjuvant therapies after surgery, development of bi-specific antibodies.
Market Overview -
Metastatic melanoma therapeutics refers to the various treatment options available for patients diagnosed with metastatic melanoma, which is a type of skin cancer that has spread to other parts of the body. Melanoma is a malignancy that affects certain melanocytes, which are pigmented cells in the body. Melanomas are created when one of these cells transforms into a tumor.
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Rising Incidence Of Melanoma Cases Boosts Metastatic Melanoma Therapeutics Market Growth
The rising incidence of melanoma cases is expected to propel the growth of the metastatic melanoma therapeutics market going forward. Melanoma is a form of skin cancer that develops in the cells (melanocytes) that regulate the pigment in the skin. Melanomas can appear anywhere on the skin. Metastatic melanoma therapeutics include a variety of treatments used to block the mutant chemicals and halt the growth of melanoma cells without causing harm to healthy tissue. For instance, in January 2023, according to the American Cancer Society, a US-based voluntary health organization dedicated to eliminating cancer, there will be 58,120 new cases of melanomas diagnosed in males and 39,490 in women in the US in 2023, totaling roughly 97,610, and melanoma deaths are predicted to total around 7,990. Furthermore, in March 2022, according to the International Agency for Research on Cancer (IARC), a France-based intergovernmental agency, between 2020 and 2040, there will be a more than 50% increase in cutaneous melanoma cases. In 2020, 325,000 new melanoma cases were predicted to be discovered worldwide, with 57,000 people dying due to the disease. Therefore, the rising incidence of melanoma is driving the growth of the metastatic melanoma therapeutics market.
Competitive Landscape -
Major companies operating in the metastatic melanoma therapeutics market report are Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., AbbVie Inc., Novartis AG, Bristol-Myers Squibb Company, AstraZeneca PLC, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Amgen Inc., Regeneron Pharmaceuticals Inc., Daiichi Sankyo Company Ltd., Eisai Co. Ltd., Incyte Corporation, Exelixis Inc., BeiGene Ltd, Immunocore Holdings plc, Genentech Inc., Iovance Biotherapeutics Inc., Nektar Therapeutics, Adaptimmune Therapeutics plc, AIVITA Biomedical Inc., Idera Pharmaceuticals Inc., Evaxion Biotech A/S, AB Science, AgonOX Inc., InxMed Co. Ltd., NewLink Genetics Corporation, Vical Inc.
Product Innovation Trend In Metastatic Melanoma Therapeutics Market
Product innovations are a key trend gaining popularity in the metastatic melanoma therapeutics market. Companies operating in the metastatic melanoma therapeutics market are adopting recent technologies to sustain their position in the market. For instance, in January 2022, Immunocore, a UK-based biotechnology company, announced FDA (Foods and Drugs Association) approval of KIMMTRAK (tebentafusp-tebn) for treating unresectable or metastatic uveal melanoma. KIMMTRAK is the first and only FDA-approved T cell receptor (TCR) therapy. This is the first compound created using the ImmTAC technology platform by Immunocore, intended to reroute and activate T lymphocytes to identify and eliminate tumor cells. It showed a statistically and clinically significant overall survival (OS) advantage, with a hazard ratio of 0.51 and a median overall survival (OS) of almost 22 months.
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Key Segments -
The metastatic melanoma therapeutics market covered in this report is segmented -
1) By Therapy: Chemotherapy, Immunotherapy, Targeted Therapy, Radiation Therapy, Surgery
2) By Stages: Stage 0, Stage I, Stage II, Stage III, Stage IV
3) By End User: Hospitals, Specialty Clinics, Home Healthcare, Other End-users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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